Determinants of Sales of Foundry Products in Nigeria: a Discriminant Function Analysis

1Patrick Onumah Agbo & 2Akintunde Olawande

Ayeni1Department of Business Administration, University of Jos, Jos, 2Department of Banking and Finance, University of Jos, Jos,

A b s t r a c t

ajor components of machine tools, power plants, Mindustrial machinery and equipment, automobile, agricultural and textile industry and several others

are products of the foundry industry. The development of foundry technology therefore, should be of strategic concern to planners of rapid industrialization of any nation. The study evaluates the determinants of sales of foundry products in Nigeria using Discriminant Analysis. The focus is to analyze the relationship between non-metric dependent variable; sales and metric or dichotomous independent variables; innovation, technology and government policy, using data collected from 68 foundries. The results revealed that innovation, with a calculated correlation value of -0.150 less than the significance benchmark of 0.300, is not a good predictor of sales of foundry products, while technology and government policy on the other hand with correlation values of 0.950 and 0.466 respectively, and greater than the significance level of 0.300 are both good predictors of sales. The study recommends among others, the need for foundries to urgently do more than pay lip service to technological changes and government policies. If they must compete favorably with foreign manufacturers and induce sales, state of the art machines and equipment for production must be acquired.

Keywords:

Foundry, Sales,

Technology,

Innovation,

Government policy,

Discriminant

Analysis.

Vol. 5, No. 1

January, 2017

Corresponding Author:

Patrick Onumah Agbo

International Journal of Advanced Studies in Economics and Public Sector Management

Hard Print: 2354-421X Online: 2354-4228

IJASEPSM | Page 159

http://internationalpolicybrief.org/journals/international-scientific-research-consortium-journals/intl-journal-of-economics-vol5-no1-jan-2017

Background to the StudyA Foundry is a factory that produces metal castings. Metals are cast into shapes by melting them into liquids, pouring the metal in a mold, and removing the mold material or casting after the metal has solidified as it cools. The most common metals processed are aluminum and cast iron. Foundry is the oldest engineering industry in Nigeria starting over 20 centuries ago. It was known to have been practiced in the middle belt region of Nigeria over 200 years ago by iron smelting termed the Nok-culture. Bronze casting was practiced on the Southern plains of Benin, Ife and Igbo-ukwu over 100 years ago. These ancient foundry practices provided the means by which our forefathers produced their domestic and agricultural tools/implements and preserved their artistic values (Inuwa, 1995).

The development of foundry technology therefore, should be of strategic concern to planners of rapid industrialization of any nation. Major components of machine tools, power plants, industrial machinery and equipment, automobile, agricultural and textile industry and several others are products of the foundry industry. Hardly can you think of any major machine or equipment which has no components that have been cast in a foundry. It is therefore, evident that the existence of foundries and associated machine tool shops are very important for the deepening and widening of the industrial base of any economy. Thus without foundries, there would be no engineering subsystem, and consequently no realistic industrial base, no end to excessive importation dependence and hence no national industrial and economic self-reliance (Majekodunmi, 1997).

Foundry activity is a highly energy and labor intensive operation (Su and Chou, 2008). Waste generation and lack of quality is however, a serious issue militating against efficient performance in foundry operation. Since profit making remains a major objective of every business, value addition through sales of products has to be given due attention in order to save money and increase revenue. West and Farr (1990) opine that for organizations to improve their sales revenue, it is important for them to be innovative which implies both change and creativity though not all change and creativity are innovative. Therefore, the harnessing of creativity of the workforce in order to promote innovation remains problematic in most companies, the foundry subsector inclusive. Thus, many organizations have the perception that customers often do not know what they want until they see new developments in the market place, the foundry sector inclusive. Agbu (2003) also posits that technology and policies of government are crucial factors that can possibly influence revenue and performance in organizations. In this regard, the study set out to evaluate sales of foundry products against predictor variables: innovation, technology and government policy.

Problem Statement

In Nigeria, little attention has been paid to the development of the foundry for too long. This

explains the country's over dependence on imported spare parts and machine components

for such vital sector of the economy. The Foundry industry in Nigeria is confronted with the

challenge of lack of patronage from consumers of foundry castings and thus the urgent need

for local content policy. The situation is synonymous with the situation where many

industries in Nigeria today are living in the 1960s and in the era of non-performance which has

invariably crippled their marketing operations and therefore affected customer satisfaction.

The objective today is to adopt marketing strategies that will make Nigerian industries

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productive, dependable, efficient and forward looking towards the process of continuous

customer satisfaction and sales.In the view of the CEO of Nigeria Foundries Limited, Vassily Berberopoulous, Nigerian foundries lack OEMs (Original Equipment Manufacturers) like Caterpillar, and so foundry production in the country is based on backward re-engineering of castings, and that to remain competitive, everything is based on specifications, inspection test procedures, and plans. This implies that the foundries ought to be technology complaint, innovative and creative. If they have problem with patronage then it implies that they are not operating efficiently, locally, internationally and globally.

Objectives of the StudyBased on the identified problem, the following objectives were proposed for the study.

(i) To find out if innovation is a determinant of sales of foundry products in Nigeria.

(ii) To examine the influence of technology on the sales of foundry products in Nigeria.

(iii) To examine the role of government in the sales of foundry products in Nigeria.

HypothesesHO1 Innovation is not a determinant of the sales of foundry products.HO2 Technology is not a determinant of the sales of Foundry products.HO3 Government policy is not a good predictor of sales of foundry products.

Literature Review

Sales of Foundry Products in NigeriaIt is an open secret that the few public foundries which are in existence such as Ajaokuta Steel Company, Aladja Steel Company, Nigeria Machine Tools and Nigeria Railway Corporation (NRC) foundries are operating below optimal level because of lack of adequate working capital, trained manpower, stable power supply and infrastructural facilities (Aladewolu, 1998). The author further argued that, it is not too different for the privately owned foundries, which, though are better managed and productive, but yet are few and majority are only jobbing foundries. This is understandable as many private investors cannot afford the investment required to set up large scale foundries.

Despite the above mentioned problems, one fact stands out clearly, that, there can be no meaningful industrialization without developing and patronizing the foundry sector in Nigeria. This fact was succinctly presented by Ezekwe (1995), when he described the foundry industry as “the mother of all industries”. Similarly, many experts believe that the Nigerian foundries have come a long way and they readily point to some of the giant strides made by the subsector currently in the servicing of the cement industry, construction industry, automobile industry, mining and quarry industry to mention just but few.

A survey commissioned by the National Agency for Science and Engineering Infrastructure, NASENI in 1995, shows that Nigeria has about 160 foundries, of this only 60 are registered commercial and they produce at an average capacity of 55%, accounting for less than 30% of the nation's required castings. Inuwa (1995) asserted that over 70% of our casting needs is still

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imported, 40 years after our independence. This to say the least is preposterous. It shows the low level of commitment of this nation to start a determined journey to the destination of the developed nations.

Innovation

Innovation is the implementation of a new or significantly improved product (good or

service) or process, a new marketing method, or a new organizational method in business

practices, workplace organizations or external relations (Jassawalla & Sashittal, 2002) What is

apparent from the innovation process is that companies need to recognize industry

differences and to have a system in place which is capable of both generating and screening

ideas (Kale & Little, 2007). Both require the development of an innovation culture within the

organization. The firm's readiness and flexibility to innovate will be influenced by marketing

factors relating to both strategic direction and management controls. The Foundry industry

is no doubt an innovation driven subsector that owes its growth and existence to

technological awareness and innovative changes.

However, Barnett and Hansen (1996) argued that an important consideration for organizations is that their innovative effort that are initially effective may result in worse relative performance in the long run as competitors are provoked into coming up with different and better innovations to compete. In sum, it takes predictive capability, through awareness and motivation, along with implementation capability to realize successful innovation outcomes.

Technology

In its original conceptualization, technology meant the systematic knowledge of the

industrial arts, which was then implemented by means of techniques. However, in the

modern times, technology is often taken to comprise both the knowledge and the means of its

utilization (Ina & Derek, 1977). Therefore, in a wider sense, technology is the elaboration of

techniques and methodologies for the solution of defined problems of a given society in a

given environment. It is usually fundamentally assisted by basic scientific research, which

provides the basis for sustainable transformation of research findings into use-value.

However, it is important to note that technology is not necessarily applied science all the time.

Whereas, science is a codified and systematized knowledge that has the power to explaining

certain phenomena, it is not necessarily technology per se, and technology is not always a

product of science.

Technically, the concept of technology has two basic parts. The first consist of all kinds of tools, machines, vehicles and buildings. The second comprise all kinds of knowledge required for the use, maintenance, repair, production, change and innovation of the first. The two parts could be termed as 'equipment' and 'technological knowledge'. Equipment is often denoted by the term (hardware) and technological knowledge by the term (software). Technological knowledge is often divided into two- the knowledge of how to do things (know-how) and the knowledge of why certain things have to be done in certain ways (know-why). Given a certain configuration of equipment and knowledge, knowledge embodied in human beings is the more decisive factor in technological growth and has both quantitative and qualitative components. Though, technology is embodied in most human activities, its

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direction and shape is largely determined by the systems of mode of production in which it is located, produced, distributed and regulated (Agbu, 2003). Today, this mode could be seen embodied in the capitalist market economy, which has become so globalized that countries have little option but to maneuver within it. For this study, our interest is in all knowledge and hardware that have to do with the development of the iron and foundry industry and its use in the social and economic transformation of Nigeria, and whether the crave and use of technology by the foundries has led to increase sales.

Government PolicyThe national policies on Foundry development are very laudable. They include:

(a) The promotion of growth and spread of foundries and allied metal forming industries in the country.

(b) The promotion of metal forging and spare parts manufacturing industries.(c) The development and promotion of machine tools industries.(d) The development of indigenous engineering capabilities for the design and

manufacture of plants and machinery (Ezekwe, 1995).

Realizing, the important role of the engineering subsector, the Federal Government established the National Agency for Science and Engineering Infrastructure (NASENI) in 1992, to remedy the nation's previous mistakes and map out strategies to develop the level of Nigeria's capability in the production of delivery systems and components. NASENI organized the existing Foundries companies to form the Foundry Association of Nigeria (FAN), a forum for favorable government foundry policy.

NASENI has assisted FAN enormously to channel the views and aspirations of the foundry men to government. Through their joint efforts and that of the Nigeria Society of Engineers, NSE, it was possible to win the mandate of government to ban the exportation of metal scraps, one of the major raw materials for foundries. In the words of the pioneer chairman of the NASENI, Late Prof. Ezekwe, government main objective is to “promote a program for the growth and expansion of a robust foundry practice in Nigeria”.

The most unfortunate problem about schemes introduced by government to promote expansion of industries is that their conditions of lending are very difficult to be satisfied by most foundries as the foundry industry is treated by these schemes as a service sub-sector having high risks of lack of expected customer patronage. Regrettably, NSE's move in the 1990s to set up an Engineering and Technological Bank, specifically planned to address this issue was killed mid-way (Inuwa 1995).

Theoretical ReviewIn this study, we align with an empirical test of the consumer behavior assumptions and firm-level pricing decisions embodied in Salop and Stiglitz's (1982) theory of sales. They examined equilibrium in a competitive market in which the mythical auctioneer is absurd and information is costly to gather. As a result, individuals may not be perfectly informed about prices or qualities of what is being sold. The model developed by the authors is of interest not only for the insight that it provides into the nature of price dispersion in the economy but also because it provides at least a partial explanation of some aspects of retailing which otherwise would be difficult to explain.

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The foundry subsector is no exception to the foregoing as the foundries boost sales with a strategic combination of manufacturing quality products, greater emphasis on pricing considerations such as: the chemistry of the metals, composition of the metals, metallurgical analysis and the client as a factor amongst others. Not much emphasis is placed on promotional activities in this respect, and because lots of the foundries are jobbing, they do not mass produce and hence little or no need for warehouses or middlemen.

Empirical ReviewA plethora of studies in economics, finance and management have focused on the determinants of sales in organizations. Mohd, Yusoff & Ahmad(2014) examined the moderating effect of government policy on entrepreneurship and growth performance of small and medium enterprises (SMEs) in Cambodia. In their study, the researchers use entrepreneurial value, firm financing, management, market practices, and Government policy as the factors that influenced the growth performance of SMEs. The finding of the study indicates a positive relationship between entrepreneurial value, firm financing, management, market practice and growth performance of SMEs. The result also confirms that government policy has an essential role as a full moderator in such relationships.

Alegre, Lapiedra & Chiva (2006) found that both product innovation dimensions (efficacy and efficiency) were strongly and positively related to firm sales. The introduction of novel product is positively associated with firm performance was also confirmed by Varis and Littunen (2010). Findings of Eggert & Serdarolgu (2014) also revealed that technology has a direct effect on sales performance when used as a customer relationship tool and a perfectly mediated effect when used for internal coordination. The departure from existing literature lies in our focus on a sector specific research (Nigerian foundry industry) which is distinguished from other organizations based on their high emphasis on product quality as well as realistic price mechanism so as to induce sales. This sector has been neglected by policy makers and researchers (Edosa, 2015).

Methodology The population of the study is the entire foundry companies in Nigeria. The Foundry Association of Nigeria (FAN) has a list of 70 members (see Appendix). Out of this number, Ajaokuta steel foundry and Delta steel foundry are not operational. Therefore, the study used the 68 operational foundry organizations. Questionnaires were administered to the owners of these foundries. Reliability test was used to test for the internal consistency of each of the questions (variables) in the questionnaire. The most convenient method for testing for the internal consistency is the Cronbach's Alpha. The reliability measure shows that Cronbach's Alpha value is .0.77. This indicated that the questionnaire is valid and reliable. Based on the result, the questionnaire was considered for further analysis.

Discriminant analysis was used to analyze relationships between a non-metric dependent variable (sales) and metric or dichotomous independent variables (innovation, technology and government policy). Discriminate analysis attempts to use the independent variables to distinguish among the groups or categories of the dependent variable. The usefulness of a discriminate model is based upon its accuracy rate, or ability to predict the known group memberships in the categories of the dependent variable (Timm, 2002). The discriminate model for this study is stated thus:

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D = θ + θ X + θ X + θ X � � �j 0 1 i 2 j 3 k

Where:D = discriminate function for increased and decreased foundry salesX = Innovationi

X = Technologyj

X = Government policyk

θ =the intercept0

θ θ and θ = the weight for the independent variables1 2 3

ResultsTable 1: Reliability Statistics

The table 2 shows the summary of data used for testing the minimum requirement of the model for the discriminant function. The ratio for this study is 23:1 which is higher than the minimum and maximum requirements of 15:1 and 20:1 respectively. This is calculated by dividing 68 by 3.

The 68 is the sample size used for the analysis while 3 represents the number of independent

variables. Therefore, the model and data is valid for further analysis.

Cronbach's Alpha N of Items

.77

24

Source: SPSS 21.0 Output

Table 2: Analysis Case Processing Summary

Unweighted Cases

N

Percent

Valid

68

100.0

Excluded

Missing or out -of-range group codes

0

.0

At least one missing discriminating variable

0

.0

Both missing or out -of-range group codes and at least one missing discriminating variable

0

.0

Total

0

.0

Total

68

100.0

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Table 3: Group Statistics Sales

Mean

Std. Deviation

Valid N (listwise)

Unweighted

Weighted

Decreased sales

Innovation

1.5714

.53452

7

7.000

Technology

1.5714

.53452

7

7.000

Government

4.5714

.53452

7

7.000

Increased sales

Innovation

2.1148

1.00164

61

61.000

Technology

1.0000

.00000

61

61.000

Government

1.8852

1.00164

61

61.000

Total

Innovation

2.0588

.97556

68

68.000

Technology

1.0588

.23704

68

68.000

Government

2.1618

1.26503

68

68.000

The table 3 shows the descriptive statistics for all the independent variables. Under the total mean, government policy is more prevalent with a mean value of 2.16. This is followed by innovation and technology with mean value of 2.05 and 1.05 respectively. It therefore shows that among the three variables, government policy influences foundry sales (either decrease or increase) more than innovation and technology.

Table 3 shows the overall multivariate relationship (MANOVA) was statistically significant at the .05 (chi square = 54.862; Wilk's L= 0.430; p = .0000) indicating that the two sales groups (increased sales and decreased sales) were significantly different. Thus, the vafriables used were able to classify the subjects into the two sales level groups.

Table 4 Wilks' Lambda Test of Function(s)

Wilks' Lambda

Chi-square

Df

Sig.

1

.430

54.862

2

.000

Table 5: Classification Results

Sales

Predicted Group Membership

Total

Decreased sales

Increased sales

Original

Count

Decreased sales

4

3

7

Increased sales

0

61

61

%

Decreased sales

57.1

42.9

100.0

Increased sales

.0

100.0

100.0

Cross-validatedb

Count

Decreased sales

4

3

7

Increased sales

0

61

61

%

Decreased sales

57.1

42.9

100.0

Increased sales

.0

100.0

100.0

a.

95.6% of original grouped cases correctly classified .

b.

Cross validation is done only for those cases in the analysis. In cross validation, each case is classified by the functions derived from all cases other than that case.

c.

95.6% of cross-validated grouped cases correctly classified.

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The Classification table shows that the classification of the dependent variable is not correctly classified. Classification is classifying subjects into the one of several groups on the basis of a set of measurements. The results in the footnote in cross-validated accuracy dicated a 95.6% rate computed by SPSS was 95.6% which is higher than the proportional by chance accuracy criteria of 62.5% (1.25 x 0.5% = 62.5%). The criterion for classification accuracy is not satisfied. This may be due to the problem of outliers and small sample size.

The structure matrix in table 5 shows the predictive power of each variable with the discriminant function. Usually, a factor value of 0.30 is seen as the cut-off between significant and insignificant variables. The hypotheses for this study was to test the predictive power of the independent variables; technology, government, and innovation on the sales of foundry product. Only innovation could not be used to predict sales however, technology and government policy were statistically significant.

DiscussionThe result from the table 5 shows that the correlation value for innovation is -0.150. This is less than the 0.300 significance benchmark. This implies that innovation is not a good predictor of the sales of foundry products. This supports the assertion of Barnett and Hansen (1996) that innovation alone cannot translate to increased sales in an organization. It takes predictive capability, through awareness and motivation, along with implementation capability to realize successful innovation outcomes.

Furthermore, the results show that the correlation value for technology, which is0.950, is more than the 0.300 significance benchmark. In this regard, we conclude that technology is a good predictor of the sales of foundry products. This also supports the claim made by Eggert & Serdarolgu (2014) that technology has a direct effect on sales performance especially when used as a customer relationship tool. The importance of technology in our daily lives is undeniable. This is due to the fact that in today's dynamic world, life without technology is meaningless, hence its influence on sales.

Lastly, findings revealed a correlation value of 0.466 for government policy, which is more than the 0.300 significance benchmark. Therefore, we conclude that government policy is a good predictor of the sales of foundry products. This is in alignment with the study of Mohd, Yusoff & Ahmad (2014) which found government policy to have a significant impact on the firm's value and performance.

Table 6: Structure Matrix

Function

1

Technology

.950

Government

.466

Innovation

-.150

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Conclusion and RecommendationsThe study highlighted the strategic importance of the foundry subsector in the nation strive for industrialization. In Nigeria, little attention has been paid to the development of the foundry for too long. This explains the country's over dependence on imported spare parts and machine components for such vital sector of the economy. Therefore, any study that focuses on this important subsector is invaluable. The study has revealed that technology and government policy are critical success factors for increased sales of foundry products in Nigeria. As a result, the following are recommended.

i. The foundries need to urgently do more than pay lip service to technological changes.

If they must compete favorably with foreign manufacturers and induce sales, the

state of the art machines and equipment for production must be acquired.

ii. The urgent need to put in place growth driven policy that will lead to sustainable

development of the foundries cannot be overemphasized. Government can support

patronage by encouraging its agencies and other private sector end-users to look

inward and source their castings locally. This can only be achieved by the enactment

of the local content policy for foundry products.

iii. For Nigeria foundries to compete favorably, government should also initiate special

credit schemes for foundries in Nigeria. This will boost their ability to respond to

technological changes, thereby improving the quality of their products.

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stthe 21 Century. The Journal of African Policy Studies, 9(1), 131-145.

Aladewolu, C. A. (1998). Foundry technology development: The Nigerian perspective, th

Seminar Paper at the 20 Anniversary of Nigerian Building and Road Research thInstitute (NBRRI). Lagos May 28 .

Alegre, J., Lapiedra, R. & Chiva, R. (2006). A measurement Scale for Product innovation performance. European Journal of Innovation Management, 9 (4), 333-346.

Barnett, W. & Hansen, M. (1996). The red queen on organizational evolution. Strategic Management Journal, 17(1), 139-157

Edosa, E. (2015). Developing the foundry industry for sustainable development available @ http://dspace.futminna.edu.ng/jspui/handle/1/4426 assessed 5th August, 2016.

Eggert, A. & Serdarolgu, M. (2014). Exploring the impact of sales technology on salesperson Performance: A Task-Based Approach. Journal of Marketing Theory and Practice, 19(2), 169-186.

Ezekwe, G. (1995), Foundries is the Mother of all Industries. Foundry Chronicle,1(7), May Edition.

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Ina, S. & Derek, S. (1977). Science, technology and Society. London: and Beverly Hills: SAGE Publications.

Inuwa, K. (1995). Foundries Subsystem: A Crucial linkage for the successful operations of the other Industries. The Nigerian Engineer. 33,. (4), December Edition.

Jassawalla, A. & Sashittal, H. (2002). Cultures that support product-innovation processes. Academy of Management Executive, 16(3), 42-54

Kale, D & Little, S. (2007). From imitation to innovation: the evolution of R&D capabilities and learning processes in the Indian pharmaceutical industry. Technology Analysis & Strategic Management, 19(5), 589-609

Majekodunmi, S. (1997). Foundry: The Mother of all Industries. Guardian Supplement. ,April 3.

Mohd, S., Yusoff, R., & Ahmad, A. (2014). Key elements of market orientation on Malaysian SMEs Performance. International Journal of Business & Society, 15(1), 49-64

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Su, C. & Chou, C. (2008). A Systematic methodology for the Creation of Six Sigma Projects. A Case Study of Semi-Conductor Foundry Expert Systems with Applications, 34:2693-2703.

Varis, M. & Littunen, H. (2010). Types of innovation, Sources of information and performance in Entrepreneurial SMEs. European Journal of Innovation Management, 13 (2), 128-154.

West, M. & Farr, J. (1990). Innovation and creativity and work. England: John Wiley.

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AppendixList of Private and Public Foundries in Nigeria

S/N Names Location Category

1.

Nigerian Foundries Ltd.

Lagos

MPF

2.

Michael Kunle Foundry Nig. Ltd.

Lagos

SPF

3.

Jimex Industries Nig. Ltd.

Nnewi MPF

4.

Associated Tech. & Eng. Ltd. (ATEL)

Lagos

SPF

5.

Central Workshop, Fed. Min. of Works

Lagos

SGF

6.

Continental Foundry Ltd.

Lagos

SPF

7.

Muhayak Eng. Coy

Owo

SPF

8.

Addis Eng. Ltd.

Lagos

SPF

9.

Olympic Tech. Ltd.

Abagana MPF

10.

P. O. Idokoji (Abco) Foundry

Warri

SPF

11.

Systemax Foundries Ltd.

Sango-Ota SPF

12.

Aranla Industries Nig. Ltd.

Warri

SPF

13.

Grand foundry& Eng. Ltd.

Lagos

MPF

14.

Leos Eng. Ltd.

Lagos

SPF

15

Basic Tech. Industries Ltd.

Kano

SPF

16.

Bisbol Eng. Ltd.

Sango-Ota SPF

17.

Indus Mechanique Nig. Ltd.

Lagos

SPF

18.

Dormanlong Eng. Ltd.

Lagos

MPF

19.

Foundry and Metallur. Serv. Nig. Ltd

Lagos

LPF

20.

S. SOA

(Nig.) Foundry Ltd.

Warri

SPF

21.

Dozik Foundry Ltd

Kano

SPF

22.

Alagura Foundries and Ventures Ltd.

Ota

SPF

23.

Auto Components

Sango-Ota SPF

24.

Premier Foundries Ltd

Warri

MPF

25.

F. A. Foundries Ltd

Lagos

SPF

26.

MARTH Foundry Ltd

Kano

SPF

27.

Isaho Industries Ltd

Nnewi SPF

28.

Ebunso Nig. Ltd

Nnewi MPF

29.

Castek Ltd

Lagos

MPF

30.

ACKO International Ltd

Lagos

SPF

31.

Ajaokuta Steel Foundry

Ajaokuta MGF

32.

Scientific Equip. Dev. Inst. (SEDI)

Minna SGF

33. Federal SC. Equip. Centre Enugu SGF

34. Nigerian Machine Tools Osogbo MGF

35. CADD Zaria SGF

36. FIIRO Lagos SGF

37. Delta Steel Foundry Warri MGF

38. Hydraulic Equipment Dev. Centre Kano SGF

39. National Metallurgical Dev. Centre Jos SGF

40. Cast Product Ltd Lagos SPF

41. Abayomi Foundries Ltd Ibadan SPF

42. S. T. Foundries Ltd Sango-Ota SPF

43. Makstech Industries & Eng. Ltd Ilesa SPF

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S/N Names Location Category 44.

Gabmunis Foundries

Otta

SPF

45.

Genesis Foundry

Otta

SPF

46

Sunday Foundry Moil

Lagos

SPF

47

Bemidele Foundry

Ota

SPF

48

God First Foundry

Lagos

SPF

49

Adekunle Foundry

Lagos

SPF

50

Shegun Makinde Foundry

Otta

SPF

51

Alagura Foundry

Lagos

SPF

52

Unique Foundry

Enugu

SGF

53

Kolmak Foundry and Engineering Works

Ota

APF

54

EEMAC Foundry Tech

Lagos

SPF

55

Foundry and Metallurgical Services Ltd

Lagos

MPF

56

Kunle Foundry

Otta

SPF

57

God Foundry

Otta

SPF

58

Ayos Engineering Foundries

Lagos

SGF

59

PRODA

Enugu

SGF

60

Abbey Foundry Ltd

Lagos

MPF

61

Foundries and Engineering Works Ltd

Ondo

SPF

62

Bindele Foundry Ltd

Ota

SPF

63

Foundry

Workd Ltd

Lagos

MPF

64

Segun Makinwe Foundry

Lagos

SGF

65

Adegold Foundry Ltd

Ota

SPF

66

Foundry Tech Ltd

Ota

MPF

67

Foundries Limited

Ondo

SPF

68

Foundry Services Ltd

Lagos

SPF

69

Ayos Foundry and Engineering Work Ltd

Lagos

SGF

70

Alagura Foundries and Ventures Ltd

Ota

SPF

Source: Foundry Association of Nigeria, Lagos, Foundry Chronicle Vol. 1 No 7 & 8

KEY:SPF: Small Private FoundryLPF: Large Private FoundryMGF: Medium Government FoundryMPF: Medium Private FoundrySGF: Small Government Foundry

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